Medical Device Reprocessing Market Analysis and Size
Medical Device Reprocessing is projected to reach USD 3.9 billion by 2027 from USD 2.0 billion in 2022, at a CAGR of 13.7% during the forecast period. Growth in this market is mainly driven by the rising need to reduce healthcare costs, and the increasing adoption of strategies to reduce medical waste.
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Any gadget that is designed to be used for medical purposes is known as a medical device. Reprocessing is performed on a medical device to confirm that it can be safely reused.
This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.
Key Market Players
The prominent players in the medical device reprocessing market are Stryker Corporation (US), Johnson Johnson (US), Vanguard AG (Germany), Medtronic PLC (Ireland), Steris Healthcare (US), Medline ReNewal (US), Innovative Health (US), Arjo Group (ReNu Medical, Inc.) (Sweden), SteriPro Canada, INC. (Canada), Northeast Scientific, INC. (US), Cardinal Health (Sustainable Technologies) (US), and SureTek Medical(US).
North America holds the largest share of the medical device reprocessing market
North America accounted for the largest share of the pharmacy automation market. Factors such as favorable US FDA approvals on reprocessing medical devices, growth in the healthcare sector, and the presence of top medical device reprocessing service providers in the US are expected to contribute to the growth of the medical device reprocessing market in North America.
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The study categorizes the Medical Device Reprocessing Market based on type, device category, application, and regional level.
By Type
- Reprocessing Support Services
- Reprocessed medical devices
By Device Category
- Critical Devices
- Semi- Critical Devices
- Non- Critical Devices
By Application
- Cardiology
- Gastroenterology
- Gynecology
- Arthroscopy Orthopedic Surgery
- General Surgery and Anesthesia
- Other Applications (Urology, non-invasive surgeries, patient monitoring)
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
Recent Developments
- In 2022, Innovative Health, LLC has received clearance to reprocess the Philips Eagle Eye Platinum digital IVUS (intravascular ultrasound) catheter. This clearance effectively marks the company’s entry into the cath lab space, thereby expanding the company’s medical device reprocessing market reach in cardiology applications.
- In 2022, Medline ReNewal opened a new distribution center in Southaven, Mississippi. The facility serves major hospitals, nursing homes, and military facilities in the region. The company invested in expanding its storage and distribution capacity in Mississippi to meet the product needs of its healthcare customers. Over USD 350.0 million in annual orders are expected to be handled from the Southaven facility.
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